NYSE$OUT
Outfront Media Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Reported a recovery in business with organic revenues up, Adjusted OIBDA up, and AFFO returning solidly to positive.
OUTFRONT Media Inc. reported revenues of $341.0 million, operating income of $29.1 million, and a net loss attributable to OUTFRONT Media Inc. of $0.9 million, or $0.05 per diluted share. Adjusted OIBDA was $70.0 million and AFFO attributable to OUTFRONT Media Inc. was $39.6 million. A quarterly dividend of $0.10 per share was declared, payable September 30, 2021.
- Organic revenues increased 53%.
- Adjusted OIBDA increased fivefold.
- AFFO returned solidly to positive.
- Resuming a common dividend.
Headline financials
Revenue & EPS history
Outfront Media · Revenue · Quarterly
$341M
Revenue by segment
Outfront Media · $360M total across 3 segments · Q2 2021
- Billboard$287M—79.8%
- Transit$53.7M—14.9%
- Other$19.2M-1.0%5.3%
Forward guidance
The company expects key performance indicators and total revenues to incrementally improve throughout the remainder of 2021 as compared to 2020, but be materially lower in 2021 than pre-COVID-19 pandemic levels.
Tailwinds
- Expect key performance indicators to incrementally improve throughout the remainder of 2021 as compared to 2020.
- Expect total revenues to incrementally improve throughout the remainder of 2021 as compared to 2020.
- Expect billboard property lease expenses, such as rental expenses, as a percentage of revenues, to decrease throughout the remainder of 2021 as compared to 2020.
- Expect posting, maintenance and other expenses, as a percentage of revenues, to decrease throughout the remainder of 2021 as compared to 2020.
- The impacts described above with respect to 2020 were greatest in the second quarter of 2020, with incremental improvement in the third and fourth quarters of 2020.
Headwinds
- Expect key performance indicators to be materially lower in 2021 than pre-COVID-19 pandemic levels.
- Expect total revenues to be materially lower in 2021 than pre-COVID-19 pandemic levels.
- Expect total expenses to increase throughout the remainder of 2021 as compared to 2020.
- Expect total expenses to be materially lower than pre-COVID-19 pandemic levels.
- Expect transit franchise expenses, such as transit franchise payments, as a percentage of revenues, to increase throughout the remainder of 2021 as compared to 2020, and be materially higher than pre-COVID-19 pandemic levels, primarily due to guaranteed minimum annual payment amounts owed to the MTA.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
+0.4%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+1.8%
Avg return
30 days after
55%
29 / 53 earnings
Positive
+22.4%
Q3 2023
Best reaction
-17.7%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.3% | -2.5% | -5.1% | |
| Q4 2025 | +5.9% | +7.0% | -4.5% | |
| Q3 2025 | +13.6% | +21.9% | +32.3% | |
| Q1 2025 | -2.5% | +5.0% | +5.8% | |
| Q4 2024 | +0.6% | +1.4% | -11.0% | |
| Q3 2024 | +3.6% | -0.8% | +4.2% | |
| Q2 2024 | +7.6% | +8.3% | +20.8% | |
| Q1 2024 | -7.4% | -7.2% | -11.3% | |
| Q4 2023 | +18.5% | +18.7% | +28.2% | |
| Q3 2023 | +22.4% | +21.4% | +32.4% | |
| Q2 2023 | -17.7% | -21.4% | -22.7% | |
| Q1 2023 | -9.1% | -10.8% | -10.6% | |
| Q4 2022 | -5.3% | -5.9% | -19.0% | |
| Q3 2022 | -5.5% | -5.0% | +6.3% | |
| Q2 2022 | -2.1% | +3.1% | -5.3% | |
| Q1 2022 | -5.6% | -10.0% | -19.6% | |
| Q4 2021 | +6.6% | +7.8% | +15.9% | |
| Q3 2021 | +6.0% | +2.6% | -8.3% | |
| Q2 2021 | +8.4% | +6.3% | +6.3% | |
| Q1 2021 | -5.3% | -0.4% | -4.0% | |
| Q4 2020 | -6.9% | -4.3% | +1.5% | |
| Q3 2020 | +8.9% | +27.4% | +41.3% | |
| Q2 2020 | +2.1% | +5.1% | +13.5% | |
| Q1 2020 | +0.8% | -20.8% | +35.0% | |
| Q4 2019 | -3.5% | -11.8% | -57.2% | |
| Q3 2019 | -5.4% | -6.1% | -5.3% | |
| Q2 2019 | +0.5% | +3.6% | +2.3% | |
| Q1 2019 | +3.1% | +4.4% | +5.7% | |
| Q4 2018 | +2.7% | +5.4% | +6.9% | |
| Q3 2018 | +11.7% | +15.5% | +14.0% | |
| Q2 2018 | -10.6% | -11.2% | -4.1% | |
| Q1 2018 | +2.3% | +4.0% | +5.0% | |
| Q4 2017 | -7.7% | -9.3% | -15.6% | |
| Q3 2017 | +2.1% | +3.0% | -1.2% | |
| Q2 2017 | +1.6% | +0.0% | -1.4% | |
| Q1 2017 | -10.1% | -9.8% | -12.4% | |
| Q4 2016 | -8.6% | -4.8% | -3.8% | |
| Q3 2016 | +7.5% | +1.9% | +18.6% | |
| Q2 2016 | -3.0% | -3.1% | -2.7% | |
| Q1 2016 | -2.0% | — | — | |
| Q4 2015 | +0.5% | — | — | |
| Q3 2015 | +0.4% | — | — | |
| Q2 2015 | -6.5% | — | — | |
| Q1 2015 | -3.2% | — | — | |
| Q4 2012 | -3.4% | — | — | |
| Q4 2014 | -3.4% | — | — | |
| Q3 2014 | +0.8% | — | — | |
| Q3 2013 | +0.8% | — | — | |
| Q2 2013 | -2.6% | — | — | |
| Q2 2014 | -2.6% | — | — | |
| Q1 2013 | +5.7% | — | — | |
| Q1 2014 | +5.7% | — | — | |
| Q4 2013 | +5.7% | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — |
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